A.M. Best Co. has affirmed the financial strength rating (FSR) of “A+” (Superior) and the issuer credit ratings (ICR) of “aa-“of Bermuda-based XL Capital Ltd’s operating subsidiaries. Best also affirmed the ICR of “a-” and the existing debt ratings of …
Standard & Poor’s Ratings Services has assigned its “B” counterparty credit rating to Hub International Ltd. with a stable outlook. S&P also assigned its “B” senior secured debt rating to Hub’s proposed $775 million of senior secured credit facilities, which …
Citizens Property Insurance Corp. board of governors approved a $1.95 billion financing plan that includes a letter of credit and bond sales to cover future hurricane losses in Florida. “A great deal has been accomplished in a short period of …
The UK’s Royal & Sun Alliance Insurance Group plc, through its wholly-owned subsidiary RSA Overseas Holdings B.V., announced an all cash tender offer for all for the outstanding shares in Denmark’s Codan A/S that it does not currently own – …
Standard & Poor’s Ratings Services has assigned its “BBB+” long-term counterparty credit and insurer financial strength ratings to Salama/Islamic Arab Insurance Co. (P.S.C.) (Salama/IAIC), located in Dubai, United Arab Emirates. S&P also raised the long-term counterparty credit and insurer financial …
Standard & Poor’s Ratings Services has assigned its “A-” rating to Travelers Companies Inc.’s $1.5 billion senior notes, which mature in 2012, 2017, and 2037. The company intends to use the proceeds to pay down its $442 million, 5.01 percent …
Standard & Poor’s Ratings Services has affirmed its “A” insurer financial strength and counterparty credit ratings on Japan’s Mingtai Fire & Marine Insurance Co. Ltd. and revised its outlook to positive from stable. S&P said the “revision reflects the likelihood …
A deputy U.S. marshal from Putnam County is suing the maker of a popular cold remedy, saying it caused him to lose his sense of smell, which is critical to his line of work. William L. Seckman, 42, who works …
Standard & Poor’s Rating Services has revised its outlook to stable from negative on German reinsurer Hannover Rückversicherung-AG and its core entities, collectively referred to as Hannover Re. The Group is majority owned by Germany’s Talanx AG. S&P also affirmed …
The attack that began in October 2002 by then New York Attorney General, now Governor, Eliot Spitzer against bid rigging and contingent commissions generated significant losses, both in income and competitiveness, for the world’s three biggest global insurance brokers. Fortunately …
